Mengis Capital Management Inc. Purchases 6,710 Shares of Fluor Corporation (NYSE:FLR)

Mengis Capital Management Inc. lifted its position in shares of Fluor Corporation (NYSE:FLR) by 21.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 37,333 shares of the construction company’s stock after buying an additional 6,710 shares during the quarter. Mengis Capital Management Inc.’s holdings in Fluor were worth $1,337,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Alyeska Investment Group L.P. raised its position in shares of Fluor by 329.5% in the 4th quarter. Alyeska Investment Group L.P. now owns 1,986,095 shares of the construction company’s stock worth $97,954,000 after acquiring an additional 1,523,647 shares in the last quarter. Pacer Advisors Inc. raised its stake in shares of Fluor by 4,097.7% during the 1st quarter. Pacer Advisors Inc. now owns 1,332,307 shares of the construction company’s stock worth $47,723,000 after acquiring an additional 1,300,568 shares in the last quarter. Balyasny Asset Management L.P. lifted its holdings in shares of Fluor by 10,125.9% during the 4th quarter. Balyasny Asset Management L.P. now owns 1,056,946 shares of the construction company’s stock valued at $52,129,000 after purchasing an additional 1,046,610 shares during the last quarter. Hood River Capital Management LLC raised its stake in Fluor by 58.4% in the fourth quarter. Hood River Capital Management LLC now owns 1,952,254 shares of the construction company’s stock valued at $96,285,000 after buying an additional 719,583 shares during the last quarter. Finally, Yaupon Capital Management LP acquired a new stake in Fluor in the 4th quarter worth approximately $26,353,000. Hedge funds and other institutional investors own 88.07% of the company’s stock.

Insider Activity at Fluor

In related news, insider Alvin C. Collins III sold 18,920 shares of Fluor stock in a transaction on Monday, June 9th. The shares were sold at an average price of $45.43, for a total value of $859,535.60. Following the sale, the insider owned 64,383 shares of the company’s stock, valued at approximately $2,924,919.69. This trade represents a 22.71% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman David E. Constable sold 40,800 shares of the company’s stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $49.00, for a total transaction of $1,999,200.00. Following the transaction, the chairman owned 870,627 shares of the company’s stock, valued at $42,660,723. This represents a 4.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 98,320 shares of company stock valued at $4,870,182. Corporate insiders own 1.70% of the company’s stock.

Fluor Trading Up 1.2%

Shares of Fluor stock opened at $56.69 on Friday. The firm has a 50-day simple moving average of $49.90 and a two-hundred day simple moving average of $43.01. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.74 and a current ratio of 1.74. Fluor Corporation has a fifty-two week low of $29.20 and a fifty-two week high of $60.10. The company has a market cap of $9.33 billion, a P/E ratio of 5.44, a price-to-earnings-growth ratio of 2.69 and a beta of 1.34.

Fluor (NYSE:FLR) last released its quarterly earnings results on Friday, May 2nd. The construction company reported $0.73 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $0.23. The company had revenue of $3.98 billion during the quarter, compared to analysts’ expectations of $4.27 billion. Fluor had a return on equity of 14.59% and a net margin of 11.13%. Fluor’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.47 EPS. As a group, equities analysts predict that Fluor Corporation will post 2.5 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Citigroup reissued a “buy” rating and issued a $71.00 target price (up from $47.00) on shares of Fluor in a research report on Monday. Robert W. Baird lifted their price objective on shares of Fluor from $41.00 to $55.00 and gave the company a “neutral” rating in a research note on Friday, July 11th. Truist Financial increased their price objective on shares of Fluor from $47.00 to $59.00 and gave the stock a “buy” rating in a research note on Thursday, July 3rd. UBS Group restated a “buy” rating and set a $60.00 target price (up from $48.00) on shares of Fluor in a research report on Tuesday, June 24th. Finally, KeyCorp lowered shares of Fluor from an “overweight” rating to a “sector weight” rating and set a $41.00 price target on the stock. in a report on Tuesday, July 15th. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Fluor presently has an average rating of “Hold” and a consensus target price of $54.43.

About Fluor

Fluor Corporation provides engineering, procurement, and construction (EPC); fabrication and modularization; operation and maintenance; asset integrity; and project management services worldwide. The company operates through Energy Solutions, Urban Solutions, Mission Solutions, and Other segments. The Energy Solutions segment provides solutions to the energy transition markets, including asset decarbonization, carbon capture, renewable fuels, waste-to-energy, green chemicals, hydrogen, nuclear power, and other low-carbon energy sources.